)

Zeus acted as Joint Bookrunner to AFC Energy on its £31.6m primary placing

Zeus have acted as Joint Bookrunner to AFC Energy (AFC.L) on its £31.6m primary placing.

Company information

AFC Energy plc is the leading developer  of alkaline fuel cell systems for the generation of clean energy in off-grid markets.  As a key participant in the Hydrogen space, AFC Energy is targeting the transition away from diesel generation through sustainable power generation across multiple key markets, including construction, temporary power and ultra-rapid EV charging in gird constrained environments.

AFC Energy’s technology is capable of delivering electricity at commercially viable prices due to the ability to accept low grade Hydrogen which can be sourced through energy dense Hydrogen carriers such as ammonia (the second largest industrial chemical manufactured globally after sulphuric acid).

The £31.6m proceeds from the raise will be used to support the continuing development of the Company as it moves from the development phase of its products and technology into manufacturing and commercialisation.

Dominic King

Head of Corporate Broking, Zeus

The Zeus team are delighted to be able to help AFC Energy with their recent £31.6m fundraise, with the introduction of a number of new, high-quality institutional investors to the register. This puts AFC Energy in a very strong position to capitalise on the opportunities presenting themselves within the sustainable power market both now and going forward.

Contact

If you would like further information, please get in touch with our team.

Dominic King Head of Corporate Broking & Sales+44 (0) 203 829 5607LinkedIn Scan with your phone camera to add to contacts Download vCard

This web page constitutes a financial promotion for the purposes of section 21 of the Financial Services and Markets Act 2000 and has been approved by Zeus Capital Limited, which is authorised and regulated by the Financial Conduct Authority.